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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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A year on the white paper and 4 more years ahead of it: pessimistic reports on the state of the econ

rocky
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A year on the white paper and 4 more years ahead of it: pessimistic reports on the state of the econ Empty A year on the white paper and 4 more years ahead of it: pessimistic reports on the state of the econ

Post by rocky Fri 15 Oct 2021, 7:43 am


[size=30]A year on the white paper and 4 more years ahead of it: pessimistic reports on the state of the economy during the next session.. Will the paper save it?


2021-10-15
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Yes Iraq: Baghdad

A whole year has passed since Mustafa Al-Kazemi’s government approved the white paper “to reform the Iraqi economy,” at a time when the numbers were completely absent from the government, and the percentages of achievement or implementation achieved from the paper’s terms and results were revealed.
In mid-October of the past year 2020, the Council of Ministers approved the white paper, in what the government described at the time as “a comprehensive roadmap aimed at reforming the Iraqi economy and addressing the serious challenges it faces, which have accumulated over the past years due to wrong policies, mismanagement, corruption and lack of planning in addition to dependence The almost total dependence on oil as a main source of state revenue.
 
 
paper goals
In general, the white paper seeks to achieve two strategic goals, according to the government, the first is to initiate an immediate reform program to address the budget deficit to provide the time and financial space to implement reform plans in the medium term.
While the second goal seeks to put the economy and budget on a sustainable path, after which Iraq can decide and choose the economic direction once and for all, and thus, immediate reforms and reforms in the medium term need between 3 to 5 years to be implemented, according to the government, which indicates the possibility of Al-Kazemi continuing for a second term.
 
Rami Jawad, who is interested in economic affairs, says: “We are living these days the first anniversary of the birth of the reform paper approved by the Council of Ministers and blessed by the previous parliament and supported by many countries in Europe and America for what it drew from solid foundations for reforming the Iraqi economy, according to the statements, but the Iraqi government did not reveal the size of the progress made. In its application, and that what the Prime Minister revealed a few days ago regarding the increase in foreign reserves was not the result of the application of the policies of this paper.”
It shows that “the rise in the foreign reserves of the Central Bank during (10) months is a result of the reluctance of traders to buy the dollar and the recession that occurred during the period from December 2020 to April 2021, as well as the rise in oil prices globally during the second half of 2021, which boosted the currency flow. As for legalizing the flow of hard currency abroad, the central bank’s indicators reflect the opposite of what the paper came with, as the daily sales of hard currency increased from their rates before changing the new price.”
He adds that "with the end of the life of the current government, it is required to disclose the progress in this paper in a transparent manner so that it will be a path for the next government to complete the steps taken if it constitutes a success and reform for the economic reality of the country instead of searching for new papers, as the new parliament and the conflicting political blocs The formation of the government should be well aware that aggravating the upcoming political situation and provoking chaos will leave its effects on the Iraqi economy in a way that is difficult to address during the next four years, and then we will need papers in all colors of the spectrum to talk about the upcoming reforms to be taken.”
 
4 years ahead..needs an economic plan
For his part, the economist Imad Abdul Latif says, “The winner of the elections, or the owner of the “largest bloc” that will be formed after the announcement of the election results, and who will assign “one of them” the position of Prime Minister, must make Iraq “recover” economically in 2022, Away from the optimistic expectations of the continued rise in oil prices, and away from the “theorists” of the white paper.
And he continued: “This is because there are sober international reports that (5) countries, including Iraq, will not recover economically in 2022, as the reports expected that there would be an increase in the momentum of economic recovery, which would enable a good number of countries in the region to compensate for the losses that incurred due to the pandemic, with the exception of crisis countries such as Iraq, Lebanon, Syria, Palestine and Yemen.
The report indicates the inability of the crisis countries (including Iraq) to recover for several reasons, including the deteriorating economic level in those countries, and their political system in which corruption has been active over the years.
Abdul-Latif points out that “accordingly, if the “winner” cannot present a realistic program for economic recovery in Iraq for the year 2022, then he must “apologise” for forming the next government, and the new parliament should never pass a government that does not have such a program. .
He continued, "Noting that Iraq does not yet have a draft law for the state's general budget for the fiscal year 2022, and it may not be able to complete this budget at all."
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